The price of a wide range of diamonds fell in August, according to a statement issued Sept. 7 by RapNet, the online trading network.

The RapNet Diamond Index for 1 ct. diamonds fell 4 percent in August, the company said. Half-carat stones declined by 2.2 percent. Three-caraters dropped 5.4 percent.

A statement noted that sentiment in the diamond market had declined, because of apprehension about U.S. debt, slow U.S. and European economic growth, volatile equity markets, and low consumer confidence.

However, the statement said that the downturn also creates “buying opportunities,” as the Far East and Asian markets are still exhibiting signs of growth.

Additional information can be found in the Rapaport Research report, “Tentative Trading, Seeking Stability.”

In mid-August, dealers told JCK they expected prices would weaken. Rough prices also sank at the August BHP tender.

JCK